Question

Myron sells lemonade on the corner. Each cup of lemonade costs him $0.50 to make; however, he marks up the price by 77%. How much would you pay for a cup of Myron's lemonade after he marked up his price?

a) $0.50
b) $0.77
c) $0.885
d) $0.8855

Answer 1

Myron marks up the lemonade by 77%, resulting in a final price of $0.885 for a cup of lemonade after adding the markup to the original cost.

Step-by-step explanation:

The student's question is about calculating the new price of a cup of lemonade after a 77% markup on the cost to make it. First, we find 77% of the original cost of $0.50, which is 0.77 x $0.50 = $0.385. Then, we add this markup to the original cost to find the final selling price: $0.50 + $0.385 = $0.885. Therefore, you would pay $0.885 for a cup of Myron's lemonade after he marked up his price.